Wetzel Investment Advisors Inc. Makes New $197,000 Investment in Devon Energy Co. (NYSE:DVN)

Wetzel Investment Advisors Inc. bought a new position in Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,340 shares of the energy company’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AlphaCrest Capital Management LLC purchased a new stake in Devon Energy in the first quarter worth about $364,000. Acadian Asset Management LLC purchased a new stake in Devon Energy in the first quarter worth about $188,000. Blair William & Co. IL increased its position in Devon Energy by 52.1% in the first quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock worth $5,861,000 after buying an additional 33,936 shares in the last quarter. Sei Investments Co. increased its position in Devon Energy by 9.2% in the first quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock worth $24,500,000 after buying an additional 34,870 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Devon Energy in the first quarter worth about $26,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DVN. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Truist Financial dropped their price objective on Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Raymond James dropped their price objective on Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Stifel Nicolaus dropped their price objective on Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $57.94.

Devon Energy Trading Up 0.8 %

DVN stock traded up $0.40 during mid-day trading on Friday, reaching $51.83. The company had a trading volume of 5,075,407 shares, compared to its average volume of 6,873,394. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The company has a market capitalization of $32.91 billion, a PE ratio of 8.89 and a beta of 2.19. The firm has a 50 day moving average of $47.89 and a 200 day moving average of $45.90. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 EPS. On average, equities analysts predict that Devon Energy Co. will post 5.14 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.40%. Devon Energy’s dividend payout ratio is currently 15.09%.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.